EXCLUSIVE: Vivakor Announces Special Stock Dividend

Vivakor, Inc VIVK announced on Friday that its Board of Directors has approved a plan to issue a special dividend to Vivakor shareholders.

Vivakor currently holds 206,595 (approximately 13.5% of the outstanding common) shares of Adapti, Inc BRZLD, a company that manages the marketing of products, data, and companies through its AdaptAI software platform.

Based on Vivakor’s current shares outstanding of approximately 47.3 million and excluding 20.96 million shares held by the company’s CEO and CFO, who are waiving their right to the dividend, each Vivakor shareholder will be entitled to receive approximately 0.0079 shares of Adapti, Inc common stock per Vivakor share.

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Based on the current share price of Adapti’s common stock, the special dividend is worth approximately $0.815 million.

Vivakor’s Board of Directors will establish a date of record for the dividend in the next couple of weeks.

Vivakor reported first-quarter revenue growth of 133% Y/Y to $37.3 million, primarily attributed to the sales of logistics and terminal realized through the operations of our newly acquired Endeavor Entities’ businesses. Operating loss for the quarter increased 298% to $(4.8) million.

EPS loss of $(0.21), compared to $(0.07) a year ago.

Price Action: VIVK stock is up 7.64% at $0.9147 premarket at the last check Friday.

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